§ Mr. ToddTo ask the Secretary of State for Education and Skills what actuarial assessment has been made of the shortfall in the Astra Group pension scheme; and if she will make a statement. [21416]
§ Mr. Ivan LewisThe latest actuarial valuation of the Astra Group Pension Scheme was by William M Mercer in April 2001. My understanding is that it showed that at the due date of valuation of 30 April 2000, had the winding-up of the scheme been completed, it would have been in deficit by £10.72 million. However, the completion of the winding-up is still some time away and only when this process is complete will the extent of any deficit be known. This matter is entirely in the hands of Astra' s administrators. The actuary (William M Mercer) has recommended that the next actuarial valuation be carried out with an effective date no later than 30 April 2003.